Investors Eying Grenada’s Energy Sector

Posted on 27 Jan 2015, on NowGrenada.comA group of heavyweight American investors is in Grenada exploring opportunities in several key sectors including energy.

The group includes Wesley Edens, Founder and Co-Chairman of the Board of Directors of Fortress Investment Group and Robert Agbede, President and CEO of Chester LNG.

Prime Minister and InvestorsEdens is also the owner of the NBA team, Milwaukee Bucks, and his company is a US$62 billion alternative asset management company with head quarters in New York and offices around the world.

The group of investors held talks with Prime Minister Dr Keith Mitchell on Tuesday and reported positive signals from the Grenadian leader.

Edens, who visited the island a year ago, says his company wants to invest in liquefied natural gas. He says Grenada is ripe for foreign investment.

“We are looking at the power business. The ports business. The island seems like it’s really prime for foreign investment and we are very welcomed here. So we feel very fortunate to be here,” said Eden, whose delegation also met with Communications and Works Minister Gregory Bowen.

“We have been looking at the Caribbean generally because we think there is a big opportunity on the power side to bring liquefied natural gas in the region. Cut power cost and Grenada is one of the places that showed up on the map so here we are”.

Agbede, whose company Chester LNG has been around for more than a 100 years, says he is ready to begin operations on the island within the year. He says his company sees many opportunities in Grenada.

“We see a lot of opportunities here. The glass is half full here. We can be of assistance to take this country from where it is to the next level. We see very enterprising, very willing, very friendly people who are willing to open the doors for us so that we can assist you, work with you jointly, in developing the island,” said Agbede.

“We are looking at several interests, especially on the energy sector, which could be very eminent. We have worked all over the Caribbean so we understand what it takes to work in an environment such as this, so we are looking to be here in the next six months”.

Chester LNG, LLC Appoints New Director of LNG Solutions

PITTSBURGH, PA – Friday, January 9, 2015 – Chester LNG, LLC (www.chesterlng.com) is proud to announce that Dr. Neville A. Tomlinson has joined the firm to lead the development of various liquefied natural gas (LNG) projects, including gas liquefaction and the storage, transportation, and vaporization of LNG. With over 24 years of industry experience, Dr. Neville is a subject matter expert (SME) in applied mechanics and has successfully managed projects involving feasibility studies, fabrication, and systems design.

Robert O. Agbede, President and CEO of Chester LNG, LLC said, “We are very excited to welcome Dr. Neville to the Chester LNG team. Appointing him to the role of Director of LNG Solutions is a testament to our commitment to become the leading manufacturer of LNG production, storage, and distribution equipment that strategically targets the needs of our domestic and international customers. As both a SME in liquefied natural gas and a seasoned project manager, Dr. Neville will enable Chester to deliver superior equipment and services for clients looking to harness the power of LNG.”

“As global demand for energy increases, the need for cleaner more environmentally friendly fuels continues to demand the attention of governments, scientists, engineers, and operators all over the world,” said Dr. Tomlinson. “LNG, while hardly a new fuel, is currently enjoying center stage attention as the most viable alternative fuel to traditional fuels now known to be severely impacting climate changes. Asserting its position as a major contributor to the developments in LNG, Chester LNG is strategically positioned to deliver LNG equipment aimed at providing scalable energy solutions to a broad range of clients. The seriousness of our commitment to delivering quality LNG equipment is evidenced by our guarantee of client satisfaction and our considered obligation to participate in preserving the delicate ecosystem of the world for which there is no spare.”

Most recently, Dr. Tomlinson served as Consultant/SME Mechanical Engineer for Jackson and Tull, and as an LNG Consultant to Dresser-Rand where he provided engineering expertise for the design, development, and installation of natural gas systems and equipment. Dr. Tomlinson holds both a bachelor's of science and a master’s degree in mechanical engineering from Howard University in Washington D.C. Additionally, he holds a Ph.D. in mechanical engineering with a specialization in applied mechanics, also from Howard University.